Australian shares broke a five-session run of gains on Wednesday, tracking a fall in US equities, while materials stocks fell in line with a dip in commodity prices. Wall Street closed lower overnight after comments from Federal Reserve Chairman Jerome Powell revived fears about more interest-rate increases. Iron ore futures and base metal prices dipped.
The S&P/ASX 200 index fell 0.7 percent to 6,016.0 at the close of trade. The benchmark rose 0.2 percent on Tuesday. Miner BHP Billiton pulled down the benchmark about 7 points, and dragged most heavily on the ASX 200. The stock lost about 2 percent in the day. Materials stocks were the biggest drags, with the sector index ending 1.4 percent lower.
In New Zealand, shares rose for a sixth consecutive session on climbing healthcare and consumer staples, although gains were checked by a number of falling sectors. New Zealand's benchmark S&P/NZX 50 index rose 0.16 percent or 13.44 points to finish the session at 8,373.82.
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